Acadian Asset Management LLC Has $44.80 Million Stake in Corcept Therapeutics Incorporated (CORT)

Acadian Asset Management LLC lifted its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 8.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,480,848 shares of the biotechnology company’s stock after purchasing an additional 185,454 shares during the quarter. Acadian Asset Management LLC owned about 2.17% of Corcept Therapeutics worth $44,803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Suntrust Banks Inc. raised its position in shares of Corcept Therapeutics by 4.0% in the 2nd quarter. Suntrust Banks Inc. now owns 12,308 shares of the biotechnology company’s stock worth $145,000 after buying an additional 471 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Corcept Therapeutics by 0.7% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 347,171 shares of the biotechnology company’s stock worth $4,097,000 after buying an additional 2,360 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Corcept Therapeutics by 52.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,837 shares of the biotechnology company’s stock worth $116,000 after buying an additional 3,390 shares during the period. American International Group Inc. raised its position in shares of Corcept Therapeutics by 8.1% in the 3rd quarter. American International Group Inc. now owns 61,110 shares of the biotechnology company’s stock worth $1,179,000 after buying an additional 4,569 shares during the period. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Corcept Therapeutics by 13.0% in the 3rd quarter. State Board of Administration of Florida Retirement System now owns 44,813 shares of the biotechnology company’s stock worth $865,000 after buying an additional 5,150 shares during the period. 64.64% of the stock is currently owned by institutional investors and hedge funds.

In other news, insider Robert S. Fishman sold 8,000 shares of Corcept Therapeutics stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $16.72, for a total transaction of $133,760.00. Following the sale, the insider now directly owns 8,000 shares of the company’s stock, valued at $133,760. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director G Leonard Baker, Jr. sold 30,000 shares of Corcept Therapeutics stock in a transaction dated Monday, November 13th. The stock was sold at an average price of $17.59, for a total value of $527,700.00. The disclosure for this sale can be found here. Insiders sold 46,000 shares of company stock worth $810,820 over the last three months. 19.20% of the stock is currently owned by corporate insiders.

Several research analysts recently weighed in on CORT shares. Piper Jaffray Companies set a $30.00 target price on Corcept Therapeutics and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Zacks Investment Research lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, BidaskClub lowered Corcept Therapeutics from a “buy” rating to a “hold” rating in a research report on Wednesday, December 20th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Corcept Therapeutics has a consensus rating of “Buy” and an average price target of $21.00.

Corcept Therapeutics Incorporated (CORT) opened at $23.98 on Friday. Corcept Therapeutics Incorporated has a 52-week low of $6.70 and a 52-week high of $24.02. The company has a market capitalization of $2,740.00, a PE ratio of 82.69 and a beta of 1.89.

Corcept Therapeutics (NASDAQ:CORT) last released its quarterly earnings data on Thursday, November 2nd. The biotechnology company reported $0.11 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.02). Corcept Therapeutics had a net margin of 27.28% and a return on equity of 58.17%. The company had revenue of $42.70 million during the quarter, compared to analysts’ expectations of $41.64 million. During the same period last year, the business earned $0.02 earnings per share. The company’s revenue for the quarter was up 96.8% compared to the same quarter last year. analysts anticipate that Corcept Therapeutics Incorporated will post 0.47 EPS for the current fiscal year.

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Corcept Therapeutics Profile

Corcept Therapeutics Incorporated is a pharmaceutical company engaged in the discovery, development and commercialization of drugs for the treatment of severe metabolic, psychiatric and oncologic disorders. The Company is developing mifepristone, a compound that modulates the effects of cortisol by acting as a competitive antagonist at the glucocorticoid receptor (GR).

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Institutional Ownership by Quarter for Corcept Therapeutics (NASDAQ:CORT)

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